A second-half goal double from Paul Pogba and Kylian Mbappe proved decisive as Les Bleus won a topsy-turvy contest in Moscow to win the trophy for a second time in their history.
For Deschamps he joins a select group joining Mario Zagallo and Franz Beckenbauer as those to have won football's biggest prize as both a player and a coach.
And during his post-match press conference the victorious coach was set upon by his delighted team who went on to douse him in champagne.
Beforehand amid the celebrations on the Luzhniki Stadium pitch Deschamps was keen to credit his team.
"How marvellous!" he said. "It's a young team, who are on the top of the world. Some are champions at the age of 19. We did not play a huge game but we showed mental quality. And we scored four goals anyway. They deserved to win.
"The group worked so hard and we had some tough moments along the way. It hurt so much to lose the Euro two years ago, but it made us learn too.
"The win is not about me, it's the players who won the game. For 55 days, we have done a lot of work. It is the supreme coronation. We are proud to be French, to be Blues. The victory in the match belongs to them. Vive le Republic."
Griezmann was once again France's key man in attack, winning the free-kick that led to Mandzukic's own goal and nervelessly beating Danijel Subasic from 12 yards after Perisic was judged to have handled in the box.
"I don't realise yet what it is," he said. "I'm very proud of this team: the players and the staff, the technical staff and medical staff. We were really a united group.
"We did something incredible, we made history and we are going to enjoy it. We're going to see our families and we're going to party. Tomorrow in France will be the same, we're going to party with the French people."
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